A syndicate of underwriters led by TD Securities Inc. has exercised the over-allotment option to purchase an additional 4.5 million common shares of Toronto-Dominion Bank, the bank announced Tuesday.

This brings the total issue announced on Nov. 24, to 35 million shares and gross proceeds raised under the offering to $1.4 billion.

The common shares will be issued by way of a prospectus supplement that will be filed with securities regulatory authorities in Canada under TD’s Sept. 29, base shelf prospectus.

The issue, which is expected to close Dec. 5, will qualify as Tier 1 capital for TD.