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American Axle & Manufacturing Holdings Inc will receive up to $210 million in aid from General Motors Co [GM.UL] as it tries to restructure its debt outside of bankruptcy, the auto-parts maker said on Tuesday. The company's bond prices also jumped while the cost of insuring its debt with credit default swaps fell sharply, as investors bet GM's financing support has reduced the risk of bankruptcy for the cash-strapped supplier.

The stock is currently trading at $6.55 moved up about 14.92% on over 39.76 million shares.

About American Axle & Manufacturing Holdings, Inc. (AAM)

American Axle & Manufacturing Holdings, Inc. (AAM) is a Tier I supplier to the automotive industry. AAM manufactures, engineers, designs and validates driveline and drivetrain systems, and related components and chassis modules for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles. Driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels.

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