This is an Ronde by Tilman Susato (??? - 1564) who was a music publisher in Antwerp, just like Pierre Phalese. Susato is mainly known because of his church music, amongst other psalms which are used in the Protestant Church, and his collections of dance music like Alderhande Danserye from 1551, the book in which this piece was published.
The piece is a joyful round dance. Play it briskly.
Detlef Hasselmeyer made this arrangement for four guitars.