I'll assume that you have the 900 aluminum swingarm. Get your self a long drill bit, and a variable speed drill. Spray the whole thing with WD40 or cutting oil before you start, and warming the whole thing up will help. the challenge you fase is that while drilling, you may get the broken bolt to start moving, but it will go into the swingarm, where it will rattle around for eternity. If it really bothers you, chase it with some gasket sealer to glue it in place.
Most likely, you have the classic problem with the aluminum swingarm. The end of the adjuster bolts rusts and when you try to move the bolt, it breaks off, or just reams out your threads in the swingarm. Given the choice, the broken bolt is a better choice, because trying to put a helicoil in that hole would not be fun.
Cheers,