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. The California Debt and Investment Advisory Commission (CDIAC) provides information, education, and technical assistance on debt issuance and public. Definition and Citations: As a hedge fund strategy it involves structuring trades using different instruments relating to a single issuer. Find the legal definition of CAPITAL STRUCTURE ARBITRAGE from Black's Law Dictionary, 2nd Edition. Employee Retirement System (ERS): Montgomery County Government's defined benefit retirement plan. Unrestricted net position consists of net position that does not meet the definition of restricted or net investment in capital assets. Rather than put up so much capital, but the franchise value of a bank license--its potential profitability--means that Nigerian banks complied. Reconciliation of Revenue per Audited Financial Statements With Revenue per Return.