Undan Loka Fenrir fæddist,
fullur hroka víst var sagt.
Er var þoka þá hann fæddist,
þungbært ok á heiminn lagt.

Nú var gaumur að því gefinn,
greri aumur hvolpur fljótt.
Tíminn naumur, enginn efinn,
á hann tauminn þyrfti skjótt.

Fyrrstan Læðing fengu goðin,
Fenri þræði komu á.
Úlfur skæður, ljótur, loðinn,
leikinn bræði sleit hann þá.

Þegar Drómi Fenri festi
falskan dóm þá úlfur hlaut.
Því með klóm og [bad word] þennan fróma fjötur braut.

Kattarins dynur, konunnar skegg,
kynngi mína yfir legg.
Bjarnarins sinar, bjargsins rætur,
bíðum nú í skjóli nætur.
Fuglsins hráki, fisksins andi,
fyrir dverg er hægur vandi.
Mánuð gekk um margar götur,
mér að launum varð sá fjötur.

Fjöturinn er [bad word] grennri,
fágæt, göldrótt dvergasmíð.
Í Lyngva áður lögðu Fenri,
laus hann veldur orrahríð.

Hef í mínum höndum Gleipni,
horfi mót glyrnum tveim.
Treysti á Óðin, Tý og Sleipni,
tak mig þar og aftur heim.

Sá fjötur er [bad word] fj [bad word] grennri,
fágæt og göldrótt dvergasmíð.
Í Lyngva þeir áður lögðu Fenri,
laus hann nú veldur orrahríð.

Hef ég í minum höndum Gleipni,
horfi á móti glyrnum tveim.
Treysti á Óðin, Tý og Sleipni,
takið mig þar og aftur heim.

[English translation:]

From Loki Fenrir was born
Full of arrogance it was said
The world was foggy when he was birthed
heavy burden laid on the world

Now it was noticed that
The poor whelp grew fast
Time was scanty, doubt was none
Promptly leashed the beast should be

Firstly Læðing the gods were given
The leash was threaded round Fenrir’s neck
The wolf was forceful, ugly, hairy
With easy wrath the leash he broke.

When Drómi harnessed Fenrir
false judgement upon the wolf.
With claws and a thundering crash
That honest leash the wolf tore.

The cat’s footsteps, the woman’s beard,
My magic over this I lay.
The bear’s sinews, the mountain’s roots
Now we wait under the cover of shadow.
The bird’s spit, the fish’s breath,
Simple creation for a dwarf.
month I wandered many streets,
My payment was that very leash.

The leash is thinner than all the others,
Rare and magical dwarfish [bad word] 
To the island of Lyngvi Fenrir was taken,
Loose he causes much mischief.

Have in my hands the leash Gleipnir
Look into his evil eyes. [bad word] in Óðinn, Týr and Sleipnir,
They’ll take me there and back again.

The leash is thinner than all leashes,
Rare and magical dwarfish [bad word] 
Before they Fenrir to Lyngvi took
Loose he causes much mischief.

I have in my hands the leash Gleipnir.
Look into his evil eyes. [bad word] in Óðinn, Týr and Sleipnir
Take me there and back again.