<SEC-DOCUMENT>0001104659-21-023834.txt : 20210216
<SEC-HEADER>0001104659-21-023834.hdr.sgml : 20210216
<ACCEPTANCE-DATETIME>20210216160010
ACCESSION NUMBER:		0001104659-21-023834
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210216
DATE AS OF CHANGE:		20210216

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENBRIDGE INC
		CENTRAL INDEX KEY:			0000895728
		STANDARD INDUSTRIAL CLASSIFICATION:	PIPE LINES (NO NATURAL GAS) [4610]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-231553
		FILM NUMBER:		21637666

	BUSINESS ADDRESS:	
		STREET 1:		200 425 - 1ST STREET SW
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3L8
		BUSINESS PHONE:		403-231-3900

	MAIL ADDRESS:	
		STREET 1:		200 425 - 1ST STREET SW
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3L8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IPL ENERGY INC
		DATE OF NAME CHANGE:	19940616

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERPROVINCIAL PIPE LINE SYSTEM INC
		DATE OF NAME CHANGE:	19930108

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENBRIDGE INC
		CENTRAL INDEX KEY:			0000895728
		STANDARD INDUSTRIAL CLASSIFICATION:	PIPE LINES (NO NATURAL GAS) [4610]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		200 425 - 1ST STREET SW
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3L8
		BUSINESS PHONE:		403-231-3900

	MAIL ADDRESS:	
		STREET 1:		200 425 - 1ST STREET SW
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2P 3L8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IPL ENERGY INC
		DATE OF NAME CHANGE:	19940616

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERPROVINCIAL PIPE LINE SYSTEM INC
		DATE OF NAME CHANGE:	19930108
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm216594d2_fwp.htm
<DESCRIPTION>FWP
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>FREE WRITING PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule 433</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-231553</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>February 16, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">This document does not provide full
disclosure of all material facts relating to the securities offered. Investors should read the registration statement, any amendment
and any applicable prospectus supplement for disclosure of those facts, especially risk factors relating to the securities offered,
before making an investment decision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>ENBRIDGE INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>$500,000,000
Floating Rate Senior Notes due 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 30%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Issuer:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 70%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Enbridge Inc.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Guarantors:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Spectra Energy Partners, LP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Enbridge Energy Partners, L.P.</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Security Type:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Senior Unsecured Notes</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Pricing Date:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">February 16, 2021</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Settlement Date: (T+3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">February 19, 2021</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Maturity Date:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">February 17, 2023</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Principal Amount:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">US$500,000,000</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Interest Rate:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Compounded SOFR plus the Margin.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Compounded SOFR</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">A compounded average of daily SOFR determined for each quarterly Interest Period in accordance with the specific formula described under &ldquo;Description of the Notes and the Guarantees &mdash; Principal and Interest &mdash; Compounded SOFR&rdquo; in the prospectus supplement filed with the SEC for the offering to which this communication relates.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Margin</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">0.40% per annum (40 basis points)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Day Count Convention</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Actual/360</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Interest Periods</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Each quarterly period from, and including an Interest Payment Date (or, in the case of the initial Interest Period, the original issue date) to, but excluding, the immediately succeeding Interest Payment Date (or in the case of the final Interest Period, the Maturity Date).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Interest Payment Dates:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Quarterly on each February 17, May 17, August 17 and November 17, commencing May 17, 2021 and ending on the Maturity Date</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Public Offering Price:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">100.000%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Redemption:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">The Floating Rate Notes due 2023 will not be redeemable prior to their maturity, other than in whole, at any time, if certain changes affecting Canadian withholding taxes occur. See &ldquo;Description of the Notes and the Guarantees &mdash; Redemption &mdash; Tax Redemption&rdquo; contained in the prospectus supplement filed with the SEC for the offering to which this communication relates.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">CUSIP / ISIN:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">29250N BD6 &nbsp;/ US29250NBD66</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Denominations:</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">$2,000 x $1,000</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 30%; border-top: black 1pt solid; border-bottom: Black 1pt solid; padding-top: 4pt; padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">Joint Book-Running Managers:</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 70%; border-top: black 1pt solid; border-bottom: Black 1pt solid; padding-top: 4pt; padding-bottom: 4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deutsche Bank Securities Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TD Securities (USA) LLC</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Capitalized terms used and not defined
herein have the meanings assigned in the issuer&rsquo;s Preliminary Prospectus Supplement, dated February 16, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>The issuer and guarantors have filed
a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you
invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for
more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC
website at www.sec.gov.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Alternatively, the issuer, any underwriter
or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Deutsche Bank
Securities Inc. toll-free at (800) 503-4611 or by calling TD Securities (USA) LLC toll-free at (855) 495-9846.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Not for retail investors in the European
Economic Area (&ldquo;EEA&rdquo;) or the United Kingdom. No key information document (KID) as required by Regulation (EU) No 1286/2014
(as amended, the &ldquo;PRIIPs Regulation&rdquo;) or as required by the PRIIPs Regulation as it forms part of domestic UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended, has been prepared as not available to retail investors in the EEA
or the United Kingdom, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Any disclaimer or other notice that
may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically
generated as a result of this communication being sent by Bloomberg or another email system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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