Company: ENBSF
Filing Date: 2025-11-17
Form Type: 424B5
Source: 0001104659-25-112992
Chunk: 55

Company: ENBRIDGE INC
Filing Date: 2025-11-17
Form: 424B5
Chunk 55
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 is in compliance
with the terms of its unsecured credit facilities and there have been no waivers of breaches thereunder. There has been no materially
adverse change to the financial position of the Corporation since the indebtedness was incurred. The Corporation may use the net proceeds
from this offering to pay down short-term debt, and, as a consequence, net proceeds from this offering may be paid to one or more lenders
who are affiliated with the underwriters.

We may have outstanding existing
indebtedness owing to certain of the underwriters and affiliates of the underwriters, a portion of which we may repay with the net proceeds
from this offering. See “Use of Proceeds” in this prospectus supplement. As a result, one or more of the underwriters or their
affiliates may receive more than 5% of the net proceeds from this offering in the form of the repayment of existing indebtedness. Accordingly,
this offering is being made pursuant to Rule 5121 of the Financial Industry Regulatory Authority, Inc. Pursuant to this rule,
the appointment of a qualified independent underwriter is not necessary in connection with this offering, because the conditions of Rule 5121(a)(1)(C) are satisfied.

Certain of the underwriters
are affiliates of banks that are currently lenders to us (the “Lenders”) under credit facilities extended to the Corporation
and certain of its subsidiaries (the “Enbridge Credit Facilities”) and, as a result, under applicable Canadian securities
legislation, we may be considered to be a connected issuer to those underwriters. We are in compliance with the terms of the Enbridge
Credit Facilities and none of the Lenders was involved in the decision to offer the Notes or in the determination of the terms of the
distribution of the Notes. The Trustee is an affiliate of Deutsche Bank Securities Inc., an underwriter of the Notes. Under the Trust
Indenture Act of 1939, as amended, due to this affiliation, if a default occurred on the Notes within one year of issuance, Deutsche Bank
Trust Company Americas may be required to resign as Trustee within 90 days of ascertaining the default unless the default (exclusive of
any period of grace or requirement of notice) were cured, duly waived or otherwise eliminated.

If any of the underwriters
or their affiliates has a lending relationship with us or our affiliates, certain of those underwriters or their affiliates routinely
hedge, certain other of those underwriters or their affiliates have hedged and