Clifford Chance (CC), Allen & Overy (A&O) and Linklaters have taken roles on a €5bn (£4bn) debt capital markets (DCM) transaction by the European Financial Stability Facility (EFSF).

The bond issuance, one of the latest transactions relating to the eurozone sovereign debt crisis, aims to tap capital markets to raise funds to make loan disbursements to Ireland under its loan facility agreement with the EFSF.