Pair of swords commissioned by King Budli (Buðli [Icel.]) of Sweden (Svíþjóð), one forged by Alius(Alíus) and another by Olius (Olíus), who were dwarven smiths from Hel. (Ásmundar saga kappabana , Saga of Asmund Champion-Killer, Ch. 1- ^*1)

At their first go at making the swords, Alius reveals that if the swords were ever swung against each other, his would prove the better, though in all wise else, they were equal. Budli consequently breaks Olius' first sword against that of Alius, forcing him to forge another (supposedly better) one. Olius complies and presents a second sword, but lays a curse on it (or fortells an evil omen of it) that it will bring the bane of a son of Budli's daughter. Budli sinks Olius' sword in Lake Lageren at Agnarfit (Löginn hjá Agnafit [Icel.], = Lake Mälaren in Sweden.).

Alius' sword is kept by the king, and eventually wielded by Hildibrand (Hildibrandur Helgisson), the son borne by his daughter Hild by her wedded husband Helgi. Hildibrand is hailed the champion of the Huns (Hünakappi [Icel.]) and unrivaled until he later faces Asmundar, his younger half-brother who winds up with Olius' accursed sword.

The birth of Asmund, son of Aki (Ásmundur Ákason) as Hildibrand's fated half-brother^*2 takes place as follows: King Budli grows infirm, his kingdom is attacked by Denmark's King Alf (Álfur) and his trusted vassal Aki. The Danes slay Budli in battle and abduct away his daughter Hild, though already married, as booty, and she is given to Aki to wed. Out of their union is born Asmund, who is thus Hildibrand's half-brother and they bear a close family resemblance.

The Danish king Alf is killed by Hildibrand on an outing. So later when Asmund sues for the hand of the Danish princess Asa the fair (Æsa in fagra), she names as her condition that he exact blood-vengeance on Hildibrand.

The princess somehow knows that the whereabouts of Olius' sword is under the Lake, and that it is the unique weapon that can best Alius's sword that Hildibrand is wielding; moreover, she knows a farmer who knows the exact bearing of where the sword was sunk. Asmund goes to the farmer and takes three dives in the lake: once he comes up empty-handed, the second time he loosens the lead case from the bottom, the third time he successfully brings up the case, and upon taking an axe to the case, a wedge breaks off the axe on accidental contact with the blade.

Armed with Olius' sword, Asmund fights on behalf of Saxland's dukes, in wagered combat against the Hildibrand's berserks, with the price of an estate at stake. Hildibrand dispatches two, then four,. . and eventually eleven berserks, after which Hildibrand himself comes out to fight. Hildibrand's sword breaks against Asmund's helmet, and by this time, his wounds are already fatal.

In his dying throes, he makes a poetic speech sometimes known as ''Hildebrand's Death-Song"^*3. He laments how he and his brother has crossed fates. In the light of the account of Halfdan in Saxo's Gesta Danorum Book 7, Hildibrand may have remained silent regarding their brother bond up to this point^*4.

Another interesting aspect is that Hildibrand gives confession he had accidentally killed his own son, just like the Hildibrand in the Old German poem Das Hildebrandslied fragment who faces his son in the battlefield, and is generally believed to have slain his son in the lost ending of the poem.

Asmund, now with the distinction of being the champion-killer, goes back to marry Asa. A suitor was about to sweep her away and that Asmund sings of his exploits to his bride to be are also echoed in Saxo's account of the tale. The poem is "Ásmund's Wedding Poem" (or otherwise treated as Part II of "Hildibrand's Death-Song"). His boast that he faced one, two, . . and eventually eleven.

The ending is echoed by Saxo in his account, for there too, another suitor was about to marry the bride when the champion-killer returns, and the content of the speech made thereafter by the rightful groom is quite similar.