diff --git a/CHANGES.md b/CHANGES.md
index c625e4d56..ccb5d1432 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,3 +1,12 @@
+Synapse 1.59.0rc2 (2022-05-16)
+==============================
+
+Bugfixes
+--------
+
+- Fix a bug introduced in Synapse 1.58.0 where `/sync` would fail if the most recent event in a room was rejected. ([\#12729](https://github.com/matrix-org/synapse/issues/12729))
+
+
 Synapse 1.59.0rc1 (2022-05-10)
 ==============================
 
diff --git a/changelog.d/12729.bugfix b/changelog.d/12729.bugfix
deleted file mode 100644
index 07aae23ac..000000000
--- a/changelog.d/12729.bugfix
+++ /dev/null
@@ -1 +0,0 @@
-Fix a bug introduced in Synapse 1.58.0 where `/sync` would fail if the most recent event in a room was rejected.
diff --git a/debian/changelog b/debian/changelog
index fabc690ba..7f9bedd7a 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+matrix-synapse-py3 (1.59.0~rc2) stable; urgency=medium
+
+  * New Synapse release 1.59.0rc2.
+
+ -- Synapse Packaging team <packages@matrix.org>  Mon, 16 May 2022 12:52:15 +0100
+
 matrix-synapse-py3 (1.59.0~rc1) stable; urgency=medium
 
   * Adjust how the `exported-requirements.txt` file is generated as part of
diff --git a/pyproject.toml b/pyproject.toml
index e3d81ae5f..1a2ddddb1 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -54,7 +54,7 @@ skip_gitignore = true
 
 [tool.poetry]
 name = "matrix-synapse"
-version = "1.59.0rc1"
+version = "1.59.0rc2"
 description = "Homeserver for the Matrix decentralised comms protocol"
 authors = ["Matrix.org Team and Contributors <packages@matrix.org>"]
 license = "Apache-2.0"