We develop a theory for a novel state of He-4 films that possesses off
-diagonal order (as in the superfluid state) as well as hexatic or bon
d orientational order. Within our description, both the hexatic and su
perfluid transitions are still of the Kosterlitz-Thouless type, but th
e superfluid stiffness is sensitive to the hexatic transition. We brie
fly discuss the possible relevance of this work to recent experiments
on submonolayer helium films.