KIEV, March 16 ??“ A major Ukrainian grain trader failed to make timely payment on 50 million hryvnias corporate bonds in what is increasingly likely to become the country??™s first corporate debt default, a newswire reported.

Agroproduct, the biggest grain and oilseed trader in the southern Ukraine, is apparently unable to redeem the three-year bonds maturing in April, Ukrayinski Novyny reported citing Credit-Rating, a Ukrainian credit rating agency.