Here’s my translation
Alan
Konungr bauð honum grið, ok lögðu margir þar vel til, en Herrauðr segist eigi grið vilja þiggja, nema Bósi hafi bæði lífs grið ok lima, en konungr sagði þess enga ván.
(The) king offered him a pardon, and many (people) put in a good word there-to (ie urged him to do it, cf leggja gott til e-s, Z14), but (and) Herrauðr says-of-himself not to want to accept (the) pardon, unless Bósi has safety for both life and limb (grið, Z2), but (the) king said (ie declared) (there to be) no hope of that.
Herrauðr sagðist þess manns bani skyldu verða, sem réði lífláti Bósa, ok eigi konungi hlífa heldr en öðrum.
Herrauðr said-of-himself (ie that he) should become (the) slayer of that person (man), who undertook (the) loss-of-life of Bósi, and (that he should) not spare (the) life of (the) king more than of (any) other (man).
Konungr segir þá, at þar færi eigi illa, at sá hefði brek, er beiðist.
(The) king says then, that (it) would go not badly there (ie it would turn out well), such that (ie, when, if) that-one (ie he) who requests on his own behalf should-have a claim (not exactly sure what the king´s point is here?)
Var konungr þá svá reiðr, at eigi mátti orðum við hann koma, ok bað leiða Herrauð aftr í myrkvastofuna ok skyldi þá báða drepa um morguninn, því at konungr vildi eigi annat, ok þótti nú flestum óvænliga horfa.
(The) king was then so angry, that (one) could not bring words by him (ie it was useless trying to talk to him), and (he) bade to lead Herrauðr back to the-dungeon (dark room) and (one) should kill them both next morning, because (the) king wanted not (anything) different, and (it) seemed now to most (people) to turn unpromisingly (that things took a serious turn for the worse).
Þetta kveld kom Busla kerling at máli við Þvara karl ok spurði, hvárt hann ætlaði ekki at bjóða fé fyrir son sinn, en hann sagðist eigi vilja ausa út fé sínu ok sagðist vita, at hann gæti eigi keypt þeim manni líf, sem deyja skyldi ok feigr væri, ok spurði, hvar nú væri komit töfrum hennar, at hún veitti eigi Bósa nokkut lið, en hún sagði sér eigi mega göngumannligar fara en honum.
This evening old-woman Busla came into conversation with commoner Þvari and asked, whether he intended not to offer money for his son, but he said-of-himself not to want to pour (dish) out his money and said-of-himself to know (verb), that he would-not-able to purchase (the) life of that person (man) who should (by fate) die and was fated (to die), and asked, where now (it) was come with her sorcery (ie what use was her sorcery now), (such) that she granted not Bósi any help, but she said (it) not to be-able to go more-beggarly for her than for him (ie it was impossible for anyone including herself to be more ‘miserable’(niggardly) than him).
Þetta kveld it sama kom Busla í þat herbergi, sem Hringr konungr svaf í, ok hóf upp bæn þá, er síðar er kölluð Buslubæn, ok hefir hún víðfræg orðit síðan, ok eru þar í mörg orð ok ill, þau sem kristnum mönnum er þarfleysa í munn at hafa, en þó er þetta upphaf á henni:
This the same evening Busla came into that room, in which King Hringr slept, and raised up that entreaty, which later is called Busla’s-Entreaty, and she has become widely-renowned since, and there-in are many words and bad (ones at that), those which for Christian folk (men) (it) is needlessness to have in (the) mouth, but still this beginning is in it (ie the entreaty, boen, fem).(ie the entreaty begins thus)
"Hér liggr Hringr konungr,
“Here lies King Hringr
hilmir Gauta,
chief of (the) Geats
einráðastr
most-self-willed
allra manna;
of all people (men)
ætlar þú son þinn
You intend your son
sjálfr at myrða,
to murder yourself
Þau munu fádæmi
Those exceptional-things will
fréttast víða.
be-reported widely
Heyr þú bæn Buslu,
Hear you (the) entreaty of Busla
brátt mun hún sungin,
It (the entreaty, fem noun) will (be) sung soon (this is my song and it won´t take long)
svá at heyrast skal
so that (it) shall be-heard
um heim allan,
around all (the) world
ok óþörf öllum,
and (it shall be) disturbing to all,
þeim sem á heyra,
to those who listen to (it)
en þeim þó fjándligust,
but nevertheless most-fiendish to those
sem ek vil fortala.
whom I want to persuade (cf fortölur) (ie the king).
Villist vættir,
Supernatural-Beings (Wights) would-go-astray,
verði ódæmi,
(A) Monstrous-thing (a cataclysm?) would happen
hristist hamrar,
Precipices (hamarr, Z3) would-be-shaken
heimr sturlist,
(The) world would-be-deranged
versni veðrátta,
(The) weather-condition would-get-worse
verði ódæmi,
(A) Monstrous-thing would-happen
nema þú, Hringr konungr,
unless you, King Hringr
Herrauð friðir
make-peace with Herrauðr
ok honum Bósa
and to him Bósi
bjargir veitir.
grant deliverance.