The advantage of a swap partition is that you don't need to preserve the data on it.
After you resized it, initialize it with mkswap and start to use it with swapon.
However, when you start resizing, you should make sure the current swap partition is not being used by the kernel. The safest way is to boot from a live distro, but I think (to warranty!) that you could refrain the swap partition from mounting by commenting out the appropriate line in /etc/fstab and reboot.
jlinkels
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