Reginsmol (The Ballad of Regin) Sigurth went to Hjalprek's stud and chose for himself a horse, who thereafter was called Grani. At that time Regin, the son of Hreithmar, was come to Hjalprek's home; he was more ingenious than all other men, and a dwarf in stature; he was wise, fierce and skilled in magic. Regin undertook Sigurth's bringing up and teaching, and loved him much. He told Sigurth of his forefathers, and also of this: that once Othin and Hönir and Loki had come to Andvari's waterfall, and in the fall were many fish. Andvari was a dwarf, who had dwelt long in the waterfall in the shape of a pike, and there he got his food. "Otr was the name of a brother of ours," said Regin, "who often went into the fall in the shape of an otter; he had caught a salmon, and sat on the high bank eating it with his eyes shut. Loki threw a stone at him and killed him; the gods thought they had had great good luck, and stripped the skin off the otter. That same evening they sought a night's lodging at Hreithmar's house, and showed their booty. Then we seized them, and told them, as ransom for their lives, to fill the otter skin with gold, and completely cover it outside as well with red gold. Then they sent Loki to get the gold; he went to Ron and got her net, and went then to Andvari's fall and cast the net in front of the pike, and the pike leaped into the net." Then Loki said:
"What is the fish that runs in the flood, And itself from ill cannot save? If thy head thou wouldst from hell redeem, Find me the water's flame."