I had the same thought whereby a loan is paid back in what they call tranches. I do know what hedging is, so a 90% hedging price which allows a company to sell at the spot price with the remaining 10% which allows a company funds for day to day expenses.
This I don't know for sure but I have seen the term "hedge fund" which leads me to believe that it can only be used for loan repayments.
Please put me right if my suppositions aren't right or maybe close.
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