diff --git a/CHANGES.rst b/CHANGES.rst
index aafd61ab4..108f827cf 100644
--- a/CHANGES.rst
+++ b/CHANGES.rst
@@ -1,3 +1,10 @@
+Changes in synapse v0.18.6-rc1 (2016-12-29)
+===========================================
+
+Bug fixes:
+
+* Make sure that outbound connections are closed (PR #1725)
+
 Changes in synapse v0.18.5 (2016-12-16)
 =======================================
 
diff --git a/synapse/__init__.py b/synapse/__init__.py
index f006e10dc..84592f53e 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -16,4 +16,4 @@
 """ This is a reference implementation of a Matrix home server.
 """
 
-__version__ = "0.18.5"
+__version__ = "0.18.6-rc1"