Sun Life Financial Services of Canada Inc. today announced that Sun Life Capital Trust, a trust established by Sun Life Assurance Company of Canada, has completed the offering in Canada of $950 million of Sun Life ExchangEable Capital Securities — Series A, also known as “SLEECS”.

The proceeds of the offering will be used to finance a portion of the purchase price for Keyport Life Insurance Company and Independent Financial Marketing Group, Inc..

Keyport is a Boston-based speciality insurance company providing a diversified line of fixed, indexed and variable annuity products in the U.S.

IFMG is a leading third-party marketer of insurance and investment products to retail customers through banks in the U.S. These acquisitions will complement both Sun Life Financial’s product array and distribution capabilities.

The lead underwriters for the SLEECS offering were Scotia Capital Inc. and Merrill Lynch Canada Inc.