M5 rivnuts ( steel in a steel frame ) are required . Recommended drill size is 7mm which is not always in
a standard drill set , you might be better off anyway opening out a 6mm hole to get a better fit .
I would practice setting a rivnut on a scrap piece of mild steel sheet before you drill the frame
You don't really have to buy a setting tool ( see on line ) I can recommend Kays fasteners as a supplier