Wild party with Norse bird (5)
I believe the answer is:
'bird' is the definition.
(raven is a kind of bird)
'wild party with norse' is the wordplay.
'wild party' becomes 'rave' (a dance party).
'with' is a charade indicator (letters next to each other).
'norse' becomes 'N' (abbreviation in linguistics).
(Other definitions for raven that I've seen before include "Large blue-black bird" , "Hungrily devour" , "Type of crow" , "Glossy black colour" , "Big black bird" .)