1. Þæt var snimma í öndverđa bygþ gođanna, þá er gođin höfðu sett Miđgarđ ok gört Valhöll
That was early in the settlement of the gods when the the gods had established Midgard and built Valhalla,
2. þá kom þar smiðr nökkur ok bauð at gøra þeim borg á þrim misserum svá góða at trú ok ørrug væri
a certain craftsman came and offered to build them a stronghold in three seasons so good that it would be safe and secure
3. fyrir bergrisum ok hrímþursum, þótt þeir kmi inn um Miðgarð; en hann mælti sér þat til kaups,
against hill-giants and frost-giants, though they came in over Midgard; but he stipulated for himself this
for payment,
4. at hann skyldi eignask Freyu, ok hafa vildi hann sól ok mána. Þá gengu Æsirnir á tal ok réðu ráðum
that he should marry Freya, and he would have had the sun and moon. Then the Æsir went into consultation and took counsel
5. sínum, ok var þat kaup gört við smiðinn, at hann skyldi eignask þat er hann mælti til, ef hann fengi
with themselves, and this agreement was made with the craftsman, that he should have that which he had stipulated, if he were able
6. gört borgina á einum vetri; en hinn fyrsta sumarsdag, ef nökkur hlutr væri
to build the stronghold within one winter; but on the first day of summer, if any part were
7. ógörr at borginni, þá skyldi hann af kaupinu, ok skyldi hann af engum manni lið þiggja til verskins.
unbuilt of the stronghold, then he should forfeit the bargain, and he should receive help from no man with the work.
8. En er þeir sögðu honum þessa kosti, þá beiddisk hann at þeir skyldu lofa
But when they told him these terms, then he asked for himself that they should allow
9. at hann hefði lið af hesti sínum, er Svaðilfari het; en því reð Loki, er þat var til lagt við hann.
that he had help from his horse, which was called Svaðilfari; but Loki counselled this, that this be agreed with him.
10. Hann tók til hinn fyrsta vetrardag at gøra borgina, en of nætr dró hann til grjót á hestinum;
He took to (the work) on the first day of winter to build the stronghold, but during the night he hauled stones to (the stronghold) with his horse;
11. en þat þótti Ásunum mikit undr, hversu stór björg sá hestr dró,
but this seemed a great wonder to the Æsir, how the horse hauled great stones,
12. ok hálfu meira þrekvirki gørði hestrinn en smiðrinn. En at kaupi þeira váru sterk vitni
and the horse did more work by half than the craftsman. But at their bargain there were strong witnesses
13 ok mörg sri, fyrir því at jötnum þótti ekki tryggt at vera með Ásum griðalaust
and many oaths, because it did not seem safe to the giants to be with the Æsir without truce
14. ef Þorr kvæni heim; en þá var hann farinn í austrveg at berja tröll.
if Thor came home; but at that time he was travelling in the east fighting with trolls.
15. En er á leið vetrinn, þá sóttisk mjök borgargørðin ok var hon svá há ok sterk
But when the winter was passed, the building of the stronghold was much advanced and it was so high and strong
16. at eigi mátti á þat leita. En þá er þrír dagar váru til sumars, þá var komit mjök at borghliði.
That it might not be attacked. But when there were three days to summer it had come very close to the gates of the stronghold.
17. Þá settusk goðin á dómstóla sína ok leituðu ráða ok spurði hverr annan hverr því hefði ráðit ,
Then the gods sat on their judgement seats and sought counsel and each asked the other who had advised this,
18. at gipta Freyju í Jötunheima eða spilla loptinu ok himninum svá, at taka þaðan sól ok tungl ok gefa jötnum;
to marry Freyja into Jötunheim or to so spoil the sky and the heavens as to take away the sun and moon and give them to the giants.
19. en þat kom ásamt með öllum, at þessu myndi ráðit hafa sá er flestu illu ræðr, Loki Laufeyjarson,
and that was agreed by all of them, that he who gives most ill counsel would have advised this. Loki Laufeyjarson,
20. ok kváðu hann verðan ills dauða, ef eigi hitti hann ráð til, at smiði væri af kaupinu,
and said he was deserving of an ill death, if he did not devise a plan, by which the craftsman lost his bargain.
21. ok veittu Loka atgöngu. En er hann varð hræddr, þá svarði hann eiða at hann skyldi svá til haga
and they assaulted Loki. And he was afraid and he swore an oath that he would so contrive it
22. at smiðrinn væri af kaupinu, hvat sem hann kostaði til.
that the builder would forfeit his reward whatever the cost.
23. Ok hit sama kveld, er smiðrinn ók út eptir grjótinu með hestinn Svaðilfara,
And the same evening, when the craftsman drove our for stones with the horse Svaðilfari,
24. þar hljóp ór skógi nökkurum merr ok at hestinum ok hrein við. En er hestrinn kendi hvat hrossi
A certain mare leapt out of the wood to the horse and neighed to him. But when the horse knew what kind of horse
25. þetta var, þá ddisk hann ok sleit sundr reipin ok hljóp til merarinnar, en hon undan til skógar
this was, the horse became frantic and broke its traces apart and ran to the mare, but she (ran) away to the wood.
26. ok smiðrinn eptir ok vill taka hestinn, en þessi hross hlaupa alla nótt ok dvelsk smíðin þá nótt.
and the builder after and he wanted to catch the horse, but these horses ran all night and the building was delayed for the night.
27. Ok eptir um daginn varð ekki svá smíðat sem fyrr hafði orðit. Ok þá er smiðrinn sér
And afterwards in the day the work was not done as it had been before. And when the builder saw
28. at eigi mun lokit verða verkinu, þá frisk smiðrinn í jötunmóð. En er Æsirnir sá þat til viss, at þar var bergrisi
that the work would not be finished, then he fell into a giant-rage. But when the Æsir saw for certain that there was a mountain-giant
29. kommin, þá varð eigi þyrmt eiðunum, ok kölluðu þeir á Þór, ok jafnskjótt kom hann, ok því næst
coming, then there was no respect for oaths, and they called on Thor, and he came at once and the next thing
30. fór á lopt hamarrin Mjöllnir. Galt hann þá smíðarkaupit, ok eigi sól eða tungl;
the hammer Mjöllnir went up in the air. He paid the for the work and not with the sun and moon;
31. heldr synjaði hann honum at byggva í Jötunheimum ok laust þat it fyrsta högg, er haussin brotnaði
rather he denied to him his dwelling in Jötunheim and with the first blow that he struck, his skull was broken
32. í smán mola, ok sendi hann niðr undir Niflheim.
into small pieces, and he sent him below to Niflheim.
33. En Loki hafði þá ferð haft til Svaðilfara at nökkurru síðar bar hann fyl. Þat var grátt ok hafði átta
But Loki had so fared with Svaðilfari that sometime later he bore a foal. It was grey and had eight legs
34. ftr, ok er sá hestr beztr með goðum ok mönnum.
legs, and that horse is the best among gods and men.