Ugglaust Íra byggðir
ókvíðinn lét síðan
él-Freyr Ullar kjóla
endr fíkula brenndar.
Skotland skǫrpum brandi
skjald†fryðr† of nam ryðja;
oddr beit — ulfar sǫddusk —
ódeigr Skota feiga.
Síðan lét ókvíðinn Ullar kjóla él-Freyr endr ugglaust byggðir Íra fíkula brenndar. Skjald†fryðr† of nam ryðja Skotland skǫrpum brandi; ódeigr oddr beit feiga Skota; ulfar sǫddusk.
Then the unworried Freyr <god> of the storm of the ships of Ullr <god> [(lit. ‘storm-Freyr of the ships of Ullr’) SHIELDS > BATTLE > WARRIOR] once fearlessly caused the settlements of the Irish to be powerfully burned down. The shield-... [WARRIOR?] proceeded to clear Scotland with a sharp sword; the unblunt point bit fated Scots; the wolves had their fill.
 of: Emendation to the expletive particle is necessary here, and is adopted in previous eds. The ms. readings af ‘from’ and ok ‘and’ do not fit the sense and syntax of the helmingr but both could be corruptions of of by scribes more familiar with the later expletive form um. Further, the vowel graph in Bb(111vb) is unclear and could be taken as <o>.
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