Hold spellbound with new halter twisted round (7)
I believe the answer is:
enthral
'hold spellbound' is the definition.
(I've seen this before)
'new halter twisted round' is the wordplay.
'new' becomes 'n'.
'twisted' indicates anagramming the letters.
'round' is an insertion indicator.
'halter' anagrammed gives 'ethral'.
'n' put into 'ethral' is 'ENTHRAL'.
'with' acts as a link.
(Other definitions for enthral that I've seen before include "absorb" , "Beguile" , "rivet" , "Totally fascinate" , "give a spell-binding performance" .)