Odin travels to Jotunheim, works for Suttungr's brother Baugi under a false name, bores through the mountain with the drill Rati, seduces Gunnlöð and drinks the three vessels dry, then flees in eagle form.
Óðinn fór heiman ok kom á þat land er Baugi hét bróðir Suttungs. Níu þrælar hans slógu hey. Óðinn bauð þeim at hýja ljá sinn, ok þótti þeim hann bitari. Þeir báðu sér ljánn. Hann kastað ljánum í loft upp ok tók hverr þeira sem hann náði. En þeir drápu hverr annan með ljánum. Óðinn bauð Bauga vinnulaun sér ok sagðist Bölverkr heita.
Odin set out from home and came to the land where Suttungr's brother Baugi lived. Nine of his thralls were mowing hay. Odin offered to sharpen their scythes, and they found the edge keener than before. They asked to keep the whetstone. He threw it up into the air and each man grasped for it, and so they slew one another with the scythes. Odin offered Baugi his labor and said his name was Bölverkr.
Um vetrinn fór Bölverkr til Suttungs. Hann lét bora fjallið með gaddinum Rata ok komst inn. Þar sat Gunnlöð á gullinum stóli ok gætti mjöðarins. Hann lá hjá henni þrjár nætr ok þá lofaði hon honum þrjá drykki af miðinum. Í fyrsta drykk drakk hann Óðrœri, í öðrum Boðn, í þriðja Són. Þá hafði hann allan miðinn ok flaug í örn líki.
In winter Bölverkr went to Suttungr's hall. He had the mountain bored through with the drill Rati and made his way inside. There sat Gunnlöð upon her golden chair, guarding the mead. He lay with her three nights, and she then granted him three drinks of the mead. With the first he drank Óðrœrir dry, with the second Boðn, with the third Són. Thus he had all the mead and flew off in eagle form.
Skaldic quotations
Hávamál 108
Rata munn létk rýma ok gnaga grjót; yfir ok undir stóðu jötna vegir.
I let Rati's mouth gnaw and bore through the rock; giant-paths stretched above and below.
Hávamál 110
Vel keypts litar hefi ek vel notit, fátt er fróðum vant; því er Óðrœrir nú uppi kominn á alda vés jaðar.
I have made good use of the well-bought gift, little is lacking to the wise; for Óðrœrir has now risen to the edge of the gods' holy place.