University in lead is first in Hungary to pen large issue (7)
I believe the answer is:
publish
'issue' is the definition.
(I know that issue can be written as publish)
'university in lead is first in hungary to pen large' is the wordplay.
'university in lead' becomes 'pubis' (I can't justify this - if you can you should believe this answer much more).
'is first in hungary' becomes 'h' (pst letter of 'hungary').
'to pen' means one lot of letters goes inside another.
'large' becomes 'L' (eg in clothes sizes).
'pubis'+'h'='pubish'
'pubish' going around 'l' is 'PUBLISH'.
(Other definitions for publish that I've seen before include "Get into print" , "Issue (a book/magazine)" , "Make generally known" , "Report" , "Damned if I do!" .)