Malms vann Mœra hilmir
munnrjóðr, es kom sunnan,
gang, þars gamlir sprungu
geirar, upp at Leiru.
Varð fyr víga Njǫrðum
Varrandi sjá fjarri
brenndr á byggðu landi
— bœr heitir svá — Peitu.
Malms munnrjóðr, hilmir Mœra, vann, es kom sunnan, gang upp at Leiru, þars gamlir geirar sprungu. Varrandi, fjarri sjá á byggðu landi Peitu, varð brenndr fyr Njǫrðum víga; bœr heitir svá.
The reddener of the mouth of the sword [(lit. ‘mouth-reddener of the sword’) SWORD BLADE > WARRIOR], the ruler of the Mœrir [NORWEGIAN KING = Óláfr], when he came from the south, fought his way up to the Loire, where old spears shattered. Varrandi, far from the sea in the settlements of Poitou, was burned for the Nirðir <gods> of battles [WARRIORS]; the town is so named.
 hilmir Mœra ‘the ruler of the Mœrir [NORWEGIAN KING = Óláfr]’: See the Note to st. 13/2-3. The kenning is taken here (as in Skald and ÍF 27) in apposition to the warrior-kenning in ll. 1-2. In Skj B it is taken as the subject to the intercalary es kom sunnan ‘when he came from the south’.
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