Capital structure arbitrageurs focus on individual issuers. They look for valuation differentials between a company's debt and equity securities.Arbitrage is the simultaneous purchase and sale of the same asset in different markets in order to profit from a difference in its price. Defining and classification of capital expenditures. The State requires that all generalpurpose local governments publish a complete set of audited financial statements, presented. Arbitrage is the strategy of taking advantage of price differences in different markets for the same asset.