Company: ENBSF
Filing Date: 2025-11-19
Form Type: 424B5
Source: 0001104659-25-114102
Chunk: 23

Company: ENBRIDGE INC
Filing Date: 2025-11-19
Form: 424B5
Chunk 23
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 the credit facilities
of Enbridge and its subsidiary, Enbridge (U.S.) Inc., described under “Underwriting” in this prospectus supplement, and
affiliates of the Trustee may have further commercial banking, advisory and other relationships with Enbridge and its subsidiaries.

Redemption

Optional Redemption

Prior to the applicable Par
Call Date, the Corporation may redeem any series of the Notes, at its option, in whole or in part, at any time and from time to time,
at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:

| (1) | (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon                                  
 discounted to the redemption date (assuming the Notes of the applicable series matured on the applicable Par Call Date) on a semi-annual 
 basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 10                                          
 basis points in the case of the 2028 Notes, 15 basis points in the case of the                                                           
 2031 Notes and 20 basis points in the case of the 2035 Notes, in each case,                                                              
 less (b) interest accrued to the date of redemption, and                                                                                 |

<div align='center'>S-14</div>

| (2) | 100% of the principal amount of the applicable series of the Notes to be redeemed, |

plus, in either case, accrued and unpaid interest
thereon to, but not including, the redemption date.

On or after the applicable
Par Call Date, we may redeem any series of the Notes, in whole or in part, at any time and from time to time, at a redemption price equal
to 100% of the principal amount of the applicable series of the Notes being redeemed plus accrued and unpaid interest thereon to the redemption
date.

“Par Call Date” means (i) October 20, 2028 (one month prior
to the maturity date of the 2028 Notes), in the case of the 2028 Notes, (ii) January 15, 2031 (one month prior to the maturity date of
the 2031 Notes), in the case of the 2031 Notes and (iii) August 20, 2035 (three months prior to the maturity date of the 2035
Notes), in the case of the 2035 Notes.