diff --git a/setup.py b/setup.py
index <HASH>..<HASH> 100755
--- a/setup.py
+++ b/setup.py
@@ -124,8 +124,8 @@ def get_version_info():
         vinfo = _version_helper.generate_git_version_info()
     except:
         vinfo = vdummy()
-        vinfo.version = '1.15.6'
-        vinfo.release = 'False'
+        vinfo.version = '1.16.0'
+        vinfo.release = 'True'
 
     with open('pycbc/version.py', 'w') as f:
         f.write("# coding: utf-8\n")
Prepare for new release (#<I>)