En við hjaldr, þars hauldar,
hugþrútit svellr, lúta,
— Muninn drekkr blóð ór benjum
blásvartr — konungs hjarta.
En hugþrútit hjarta konungs svellr við hjaldr, þars hauldar lúta; blásvartr Muninn drekkr blóð ór benjum.
And the courage-enlarged heart of the king swells at the battle where freeholders sink down; blue-black Muninn <raven> drinks blood from wounds.
[1] hauldar: so all others, haulda R
[1] hauldar ‘freeholders’: Hauldar were Norwegian free farmers. The word is variously spelled hǫlðar, hǫldar and hauldar. The latter form is Norwegian (see ANG §§105 Anm., 319.2 and Note to Anon Nkt 15/2II).