diff --git a/synapse/replication/tcp/handler.py b/synapse/replication/tcp/handler.py

index d9045d7b73..5642666411 100644
--- a/synapse/replication/tcp/handler.py
+++ b/synapse/replication/tcp/handler.py
@@ -644,7 +644,7 @@ class ReplicationCommandHandler:
                     [stream.parse_row(row) for row in rows],
                 )
 
-            logger.info("Caught up with stream '%s' to %i", stream_name, cmd.new_token)
+        logger.info("Caught up with stream '%s' to %i", stream_name, cmd.new_token)
 
         # We've now caught up to position sent to us, notify handler.
         await self._replication_data_handler.on_position(