Socialise happily on Bali nurturing old Balinese leaders (6)
I believe the answer is:
hobnob
'socialise' is the definition.
(I've seen this before)
'happily on bali nurturing old balinese leaders' is the wordplay.
'leaders' indicates taking the first letters.
The first letters of 'happily on bali nurturing old balinese' is 'HOBNOB'.
(Other definitions for hobnob that I've seen before include "Socialise familiarly" , "Spend time together, socialise" , "Associate informally" , "Spend friendly time together" , "Rub shoulders (with)" .)