A converter and a method of operating a converter. The converter comprising a DC link capacitor, an upper arm (S1) and a lower arm (S4) with switching cells in series, an upper switch (S2) and a lower switch (S3). The upper switch (S2) and the lower switch (S3) are connected together and the connection point forming an output voltage terminal (a). The converter comprising further an upper valve component and a lower valve component, which are arranged such that the upper valve component allows current from the center point of the DC link capacitor towards the upper arm and the lower valve component allows current from the lower arm towards center point of the DC link capacitor. A current path through the upper valve component or the lower valve component comprises inductance to form a resonance circuit.