diff --git a/CHANGELOG.md b/CHANGELOG.md
index c286390f8ae9..f7f0675c0ab4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,10 +1,11 @@
 # Svelte changelog
 
-## Unreleased
+## 3.16.1
 
 * Fix unused export warning for props used as stores ([#4021](https://github.com/sveltejs/svelte/issues/4021))
 * Fix `{:then}` without resolved value containing `{#each}` ([#4022](https://github.com/sveltejs/svelte/issues/4022))
 * Fix incorrect code generated with `loopGuardTimeout` ([#4034](https://github.com/sveltejs/svelte/issues/4034))
+* Fix handling of bitmask overflow and globals ([#4037](https://github.com/sveltejs/svelte/issues/4037))
 * Fix `{:then}` containing `{#if}` ([#4044](https://github.com/sveltejs/svelte/issues/4044))
 * Fix bare `import`s in `format: 'cjs'` output mode ([#4055](https://github.com/sveltejs/svelte/issues/4050))
 * Warn when using a known global as a component name ([#4070](https://github.com/sveltejs/svelte/issues/4070))
diff --git a/package-lock.json b/package-lock.json
index 4a45a6e5fdcf..93e762b3a8a4 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,6 +1,6 @@
 {
   "name": "svelte",
-  "version": "3.15.0",
+  "version": "3.16.1",
   "lockfileVersion": 1,
   "requires": true,
   "dependencies": {
diff --git a/package.json b/package.json
index 5a754224274e..fb1d7cbad34d 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "svelte",
-  "version": "3.16.0",
+  "version": "3.16.1",
   "description": "Cybernetically enhanced web apps",
   "module": "index.mjs",
   "main": "index",