Obligation Enbridge Energy 5.625% ( US29250NCC74 ) en USD

Enbridge Energy

101.19 % ▲

Canada

US29250NCC74 ( en USD )

5.625% par an ( paiement semestriel )

05/04/2034

Prospectus brochure de l'obligation Enbridge US29250NCC74 en USD 5.625%, échéance 05/04/2034

2 000 USD

1 200 000 000 USD

29250NCC7

BBB+ ( Qualité moyenne inférieure )

Baa2 ( Qualité moyenne inférieure )

05/10/2025 ( Dans 159 jours )

Enbridge est une société énergétique nord-américaine spécialisée dans le transport et le stockage de pétrole brut et de gaz naturel, ainsi que dans la production d'énergie renouvelable.

L'Obligation émise par Enbridge Energy ( Canada ) , en USD, avec le code ISIN US29250NCC74, paye un coupon de 5.625% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 05/04/2034

L'Obligation émise par Enbridge Energy ( Canada ) , en USD, avec le code ISIN US29250NCC74, a été notée Baa2 ( Qualité moyenne inférieure ) par l'agence de notation Moody's.

L'Obligation émise par Enbridge Energy ( Canada ) , en USD, avec le code ISIN US29250NCC74, a été notée BBB+ ( Qualité moyenne inférieure ) par l'agence de notation Standard & Poor's ( S&P ).

FREE WRITING PROSPECTUS
Filed Pursuant to Rule 433
Registration No. 333-266405
April 2, 2024
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.

ENBRIDGE INC.
5.250% Senior Notes due 2027
5.300% Senior Notes due 2029
5.625% Senior Notes due 2034
5.950% Senior Notes due 2054

Issuer:
Enbridge Inc.

Guarantors:
Spectra Energy Partners, LP

Enbridge Energy Partners, L.P.
Issue of
Securities:
5.250% Senior Notes due 2027 5.300% Senior Notes due 2029 5.625% Senior Notes due 2034 5.950% Senior Notes due 2054
Principal Amount: US$750,000,000
US$750,000,000
US$1,200,000,000
US$800,000,000
Coupon:
5.250%
5.300%
5.625%
5.950%
Interest Payment Semi-annually on April 5 and
Semi-annually on April 5 and
Semi-annually on April 5 and
Semi-annually on April 5 and
Dates:
October 5, commencing on
October 5, commencing on
October 5, commencing on
October 5, commencing on
October 5, 2024.
October 5, 2024.
October 5, 2024.
October 5, 2024.
Maturity Date:
April 5, 2027
April 5, 2029
April 5, 2034
April 5, 2054
Treasury
Benchmark:
4.250% due March 15, 2027
4.125% due March 31, 2029
4.000% due February 15, 2034
4.750% due November 15, 2053
U.S. Treasury
Yield:
4.521%
4.355%
4.365%
4.508%
Spread to
Treasury:
+0.750%
+0.950%
+1.280%
+1.450%
Re-offer Yield:
5.271%
5.305%
5.645%
5.958%
Initial Price to
Public:
99.942%
99.978%
99.849%
99.889%
Minimum
Denominations:
US$2,000 x $1,000
US$2,000 x $1,000
US$2,000 x $1,000
US$2,000 x $1,000
Optional
On any date more than one
On any date more than one
On any date more than three
On any date more than six
Redemption:
month prior to the maturity date month prior to the maturity date months prior to the maturity date months prior to the maturity date
for an amount equal to the
for an amount equal to the
for an amount equal to the
for an amount equal to the
principal amount of the notes
principal amount of the notes
principal amount of the notes
principal amount of the notes
redeemed plus a make-whole
redeemed plus a make-whole
redeemed plus a make-whole
redeemed plus a make-whole
premium and accrued but unpaid premium and accrued but unpaid premium and accrued but unpaid premium and accrued but unpaid
interest to the redemption date.
interest to the redemption date.
interest to the redemption date.
interest to the redemption date.

On any date that is on or after
On any date that is on or after
On any date that is on or after
On any date that is on or after
March 5, 2027, the date that is
March 5, 2029, the date that is
January 5, 2034, the date that is October 5, 2053, the date that is
one month prior to the maturity one month prior to the maturity three months prior to the
six months prior to the maturity
date, for an amount equal to the date, for an amount equal to the maturity date, for an amount
date, for an amount equal to the
principal amount of the notes
principal amount of the notes
equal to the principal amount of principal amount of the notes
redeemed plus accrued but
redeemed plus accrued but
the notes redeemed plus accrued redeemed plus accrued but
unpaid interest to the
unpaid interest to the
but unpaid interest to the
unpaid interest to the
redemption date.
redemption date.
redemption date.
redemption date.

Make-Whole
Premium:
U.S. Treasury +15 bps
U.S. Treasury +15 bps
U.S. Treasury +20 bps
U.S. Treasury +25 bps
CUSIP / ISIN:
29250N CA1 / US29250NCA19
29250N CB9 / US29250NCB91 29250N CC7 /
29250N CD5 /
US29250NCC74
US29250NCD57
Trade/Pricing
Date:
April 2, 2024
Settlement
Date*:
April 5, 2024 (T+3)
Joint Book-
BofA Securities, Inc.
Running
Citigroup Global Markets Inc.
Managers:
Deutsche Bank Securities Inc.
SMBC Nikko Securities America, Inc.
Credit Agricole Securities (USA) Inc.
Wells Fargo Securities, LLC
Co-Managers: Barclays Capital Inc.
J.P. Morgan Securities LLC
Mizuho Securities USA LLC
MUFG Securities Americas Inc.
SG Americas Securities, LLC
Truist Securities, Inc.
Morgan Stanley & Co. LLC
Academy Securities, Inc.
Loop Capital Markets LLC
Samuel A. Ramirez & Company, Inc.
AmeriVet Securities, Inc.
C.L. King & Associates, Inc.
Roberts & Ryan, Inc.

*The issuer expects that delivery of the Notes will be made against payment therefor on or about April 5, 2024, which will be the third business day
following the date of pricing of the Notes (this settlement cycle being herein referred to as "T+3"). Under Rule 15c6-1 under the U.S. Securities Exchange
Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly
agree otherwise. Accordingly, purchasers who wish to trade the Notes more than two business days prior to the scheduled settlement date will be required,
by virtue of the fact that the Notes initially will settle in T+3, to specify an alternative settlement cycle at the time of any such trade to prevent a failed
settlement. Purchasers of the Notes who wish to make such trades should consult their own advisor.
Capitalized terms used and not defined herein have the meanings assigned in the issuer's Preliminary Prospectus Supplement, dated April 2, 2024.
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.

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 BofA Securities, Inc. at 1-800-294-1322, Citigroup Global Markets Inc. toll-free at 1-800-831-9146, by emailing Deutsche Bank Securities
Inc. at [email protected] or by calling SMBC Nikko Securities America, Inc. toll-free at 1-888-868-6856.
Not for retail investors in the European Economic Area ("EEA") or the United Kingdom. No key information document (KID) as required by Regulation
(EU) No 1286/2014 (as amended, the "PRIIPs Regulation") 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.
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.