Loki spake:
42. "The daughter of Gymir | with gold didst thou buy,
And sold thy sword to boot;
But when Muspell's sons | through Myrkwood ride,
Thou shalt weaponless wait, poor wretch."

Byggvir spake:
43. "Had I birth so famous | as Ingunar-Freyr,
And sat in so lofty a seat,
I would crush to marrow | this croaker of ill,
And beat all his body to bits."

Loki spake:
44. "What little creature | goes crawling there,
Snuffling and snapping about?
At Freyr's ears ever | wilt thou be found,
Or muttering hard at the mill."

Byggvir spake:
45. "Byggvir my name, | and nimble am I,
As gods and men do grant;
And here am I proud | that the children of Hropt
Together all drink ale."

[41. The mouth of the river: according to Snorri, the chained Fenrir "roars horribly, and the slaver runs from his mouth, and makes the river called Vam; he lies there till the doom of the gods." Freyr's threat is actually carried out; cf. concluding prose.

42. The daughter of Gymir: Gerth, heroine of the Skirnismol, which gives the details of Freyr's loss of his sword. Muspell's sons: the name Muspell is not used elsewhere in the poems; Snorri uses it frequently, but only in this same phrase, "Muspell's sons." They are the dwellers in the fire-world, Muspellsheim, led by Surt against the gods in the last battle; cf. Voluspo, 47 and 52 and notes. Myrkwood: here the dark forest bounding the fire-world; in the Atlakvitha (stanza 3) the name is used of another boundary forest.

43. Byggvir: one of Freyr's two servants; cf. introductory prose. Ingunar-Freyr: the name is not used elsewhere in the poems, or by Snorri; it may be the genitive of a woman's name, Ingun, the unknown sister of Njorth who was Freyr's mother (cf. stanza 36), or a corruption of the name Ingw, used for Freyr (Fro) in old German mythology.

44. Beginning with this stanza, the names of the speakers are lacking in the manuscript. The mill: i.e., at slaves' tasks.

45. Nothing further is known of either Byggvir's swiftness or his cowardice. Hropt: Othin.]

Loki kvað:
42. "Gulli keypta léztu Gymis dóttur
ok seldir þitt svá sverð;
en er Múspells synir ríða Myrkvið yfir,
veizt-a þú þá, vesall, hvé þú vegr."

Byggvir kvað:
43. "Veiztu, ef ek eðli ættak sem Ingunar-Freyr
ok svá sælligt setr, mergi smæra
mölða ek þá meinkráku ok lemða alla í liðu."

Loki kvað:
44. "Hvat er þat it litla er ek þat löggra sék
ok snapvíst snapir?
At eyrum Freys mundu æ vera ok und kvernum klaka."

Byggvir kvað:
45. "Byggvir ek heiti, en mik bráðan kveða
goð öll ok gumar;
því em ek hér hróðugr, at drekka Hrofts megir
allir öl saman."