HNA, which once symbolized China’s insatiable appetite for overseas assets, sold the country’s most expensive short-term dollar bond ever as it tries to refinance a wall of maturing debt amid government scrutiny. The company priced a 363-day bond at 8.875%, after initially marketing it for about 9%, according to a person familiar with the offering. Proceeds from the $300 million sale will be used to refinance offshore debt, said the person, who isn’t authorized to speak publicly and asked not to be identified. The previous record was Herun Holdings Ltd.’s 8% notes sold in September. The sale is the latest indication that HNA’s $40-billion-plus acquisition spree, where it became the largest shareholder in companies such as Deutsche Bank AG and Hilton Worldwide Holdings, is catching up to the company as it accumulated about $28 billion in short-term debt. HNA’s interest expenses doubled in the first half, according to data compiled by Bloomberg.