Swingarm feels seized after re-installing

I'm busy re-installing my swingarm (had to get a seized chain adjuster bolt drilled out :dousing.

Problem I have is that as soon as I torque it to 130nm I can barely move the swingarm.  Almost like I'm missing a spacer or something, but for the life of me I can't recall seeing one when I took off the swingarm.

Are there spacers or am I doing some else wrong?

I've attached pics of both sides of the swingarm.