The three-year bonds, totalling 2 billion pounds, mature on Jan. 17, 2015, and have a coupon of 16.15 percent. The yields ranged from 16.30 to 16.41 percent, with an average of 16.36 percent.

The five-year bonds mature on Jan. 17, 2017, and have a coupon of 16.35 percent. The yields ranged from 16.70 to 16.83 percent, with an average of 16.78 percent.

Settlement will take place on March 13. Government bonds are sold by the central bank on behalf of the finance ministry.